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701 E Depot Ave
Knoxville, TN 37917
Knoxville Smokies Stadium Redevelopment Site · Land For Sale
·
0.78 AC
Investment Highlights
- Price is Subject to Offer
- Potential rezoning support to C-G-2 or C-G-3 for higher-density multifamily or mixed-use development
- Minutes from University of Tennessee and surrounding student and workforce housing demand
- Direct adjacency to Covenant Health Park, Knoxville’s new 7,000-seat multi-use stadium and entertainment district
- Less than one mile from Downtown Knoxville and the Old City
- Strong long-term multifamily fundamentals driven by population growth, expanding employment base, and increasing housing demand
Executive Summary
SVN | Wood Properties is pleased to exclusively present 701 E Depot Avenue, a premier ±0.784-acre redevelopment opportunity located directly adjacent to Covenant Health Park — the brand-new 7,000-seat multi-use stadium that opened in Spring 2025 and serves as the home of the Knoxville Smokies and One Knoxville SC, while also hosting concerts, festivals, and major regional events.
Positioned within one of the fastest-transforming districts in Knoxville, the property sits at the center of the continued expansion of Downtown Knoxville and the rapidly evolving Old City / stadium corridor. Significant public and private investment surrounding the stadium has accelerated momentum throughout the area, with new residential, retail, hospitality, and entertainment developments reshaping the urban core and driving long-term demand for housing.
Knoxville continues to rank among the most desirable cities in the Southeast for relocation, benefiting from strong in-migration, a growing employment base, and an exceptional quality of life. Additionally, the continued growth of University of Tennessee — including rising enrollment, expanding campus investment, and increasing demand for nearby housing — further strengthens the long-term fundamentals supporting multifamily development in the area.
Zoned I-MU (Industrial Mixed-Use), the parcel is exceptionally well-positioned for redevelopment into a multifamily or mixed-use residential project. The site’s generous dimensions, walkability, and strategic location make it an ideal candidate for vertical development. A rezoning to either C-G-2 or C-G-3 (General Commercial zoning districts) is also likely to receive support from the City of Knoxville.
The C-G-2 district supports moderate-intensity mixed-use and multifamily development designed for walkable urban corridors, while C-G-3 allows for high-intensity commercial and residential development with greater flexibility on building scale and land coverage — making it particularly attractive for larger-scale apartment or mixed-use projects. Both zoning districts allow residential uses by right and align with the density, flexibility, and urban character this location demands.
With immediate proximity to Downtown Knoxville, the stadium district, the Old City, and the University of Tennessee, 701 E Depot Avenue represents one of the most compelling urban redevelopment opportunities currently available in the Knoxville market.
Positioned within one of the fastest-transforming districts in Knoxville, the property sits at the center of the continued expansion of Downtown Knoxville and the rapidly evolving Old City / stadium corridor. Significant public and private investment surrounding the stadium has accelerated momentum throughout the area, with new residential, retail, hospitality, and entertainment developments reshaping the urban core and driving long-term demand for housing.
Knoxville continues to rank among the most desirable cities in the Southeast for relocation, benefiting from strong in-migration, a growing employment base, and an exceptional quality of life. Additionally, the continued growth of University of Tennessee — including rising enrollment, expanding campus investment, and increasing demand for nearby housing — further strengthens the long-term fundamentals supporting multifamily development in the area.
Zoned I-MU (Industrial Mixed-Use), the parcel is exceptionally well-positioned for redevelopment into a multifamily or mixed-use residential project. The site’s generous dimensions, walkability, and strategic location make it an ideal candidate for vertical development. A rezoning to either C-G-2 or C-G-3 (General Commercial zoning districts) is also likely to receive support from the City of Knoxville.
The C-G-2 district supports moderate-intensity mixed-use and multifamily development designed for walkable urban corridors, while C-G-3 allows for high-intensity commercial and residential development with greater flexibility on building scale and land coverage — making it particularly attractive for larger-scale apartment or mixed-use projects. Both zoning districts allow residential uses by right and align with the density, flexibility, and urban character this location demands.
With immediate proximity to Downtown Knoxville, the stadium district, the Old City, and the University of Tennessee, 701 E Depot Avenue represents one of the most compelling urban redevelopment opportunities currently available in the Knoxville market.
Property Facts
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.78 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Property Subtype | Residential | ||
| Zoning | I-MU - Industrial Mixed Use | ||
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | |
| Total Lot Size | 0.78 AC |
| Opportunity Zone |
Yes |
| Zoning | I-MU - Industrial Mixed Use |
1 Lot Available
Lot
| Lot Size | 0.78 AC |
| Lot Size | 0.78 AC |
Description
This property sits at the epicenter of Knoxville’s most ambitious revitalization zone. Just steps from the newly constructed Covenant Health Park, the area is undergoing a transformation into a dynamic mixed-use district—infused with energy from sports, entertainment, and urban living.
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